AstraZeneca boosted by first quarter Covid-19 vaccine revenue of $275m

30 April 2021 - 09:33 By Reuters
AstraZeneca delivered 68 million doses of its Covid-19 vaccine worldwide. File photo.
AstraZeneca delivered 68 million doses of its Covid-19 vaccine worldwide. File photo.
Image: REUTERS/Yves Herman

AstraZeneca said on Friday its Covid-19 vaccine contributed $275m (R3.95bn) in sales and shaved off three cents per share from its first-quarter earnings, as the drugmaker reported better-than-expected results and forecast sales growth.

This is the first time the drugmaker has given financial details from the distribution and sales of its vaccine. It has said it will not make a profit from the shot during the pandemic.

Vaccine revenue included delivery of about 68 million doses worldwide, it said. Sales in Europe were $224m, emerging market sales were $43m, and $8m in the rest of the world, it said.

Total revenue, which includes payments from collaborations, rose 11% to $7.32bn for the three months to March on a constant-currency basis, while core earnings stood at $1.63 cents per share, the Anglo-Swedish drugmaker said.

Analysts on average were expecting core earnings of $1.48 per share on sales of $6.94bn for the first quarter, according to a company-provided consensus of 18 analysts.

“We expect the impact of Covid to reduce and anticipate a performance acceleration in the second half of 2021,” CEO Pascal Soriot said in statement.